tag:blogger.com,1999:blog-7928409644560109142.post5510125879088019099..comments2024-03-28T08:04:48.319+00:00Comments on Corporate Law and Governance: Philippines: SEC adopts revised corporate governance codeRobert Goddardhttp://www.blogger.com/profile/15725241229854978985noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7928409644560109142.post-40189558889818845722010-01-24T15:39:18.237+00:002010-01-24T15:39:18.237+00:00It is not uncommon for corporations in the Philipp...It is not uncommon for corporations in the Philippines to appoint directors on the basis of connections or affiliations. However, the Code of Corporate Governance, especially the revised Code is very specific on the qualifications and experience of those who are supposed to discharge the responsibilities under the Code. One such example is the Audit Committee. If none of the appointed directors who will form the audit committee have the necessary experience as an audutor, for example - I believe that this could be corrected by outsourcing the performance of the required and defined responsi- bilities. The person to whom such responsibility was outsourced will report to the director appointed as audit committee member but lacking in audit qualification. Pls cpomment on this position.Freddie Nonhttps://www.blogger.com/profile/11872993651798151324noreply@blogger.com